Product ID: SQMIG30C2087
Global Department Stores Market Size, Share, Growth Analysis, By Product type(Apparel and Accessories, FMCG and Hardline and Softline), By License(Branded and Unbranded) - Industry Forecast 2024-2031
Report ID:
SQMIG30C2087 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
60 |
Figures:
76
Global Department Stores Market Dynamics
Department Stores Market Drivers
Novel Product Launches to Bolster Market Growth
- Increasing population and rising incomes have increased global product demand, resulting in a faster growth rate for department stores. Aside from these factors, the growing number of shopping malls is driving market growth by providing more opportunities for customers to spend their money on retail goods at multiple outlets under one roof.
- A number of new product launches, combined with increased private-label brand participation, have been driving brand-mix shifts in the consumer packaged goods segment recently. This is likely to continue into the forecast period. The expansion of packaging formats, whether through SKU extensions or premium/innovative/sustainable packaging, has significantly enhanced the department store retailing market growth.
Department Stores Market Restraints
Online Platforms to Hinder Market Growth
- Online retailing poses a threat to traditional brick-and-mortar retailers because it provides convenience at competitive prices due to lower operational costs when compared to offline retailers such as department stores. Furthermore, it saves time and allows customer to buy products from anywhere and at any time.
Global Department Stores Market Report Snapshots
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